Best Business Law Practitioners in East Grinstead

When do you not need probate? The type of assets you own and make up your estate, plus their value, will determine whether the executors and administrators of your will need a grant of probate or not. If all of your assets are in joint names with your spouse then it is commonly a situation where a grant of probate will not be needed. This means that any property, bank accounts, or life policies, will continue in the name of the survivor. Regardless of any contrary wishes in a will if an asset is jointly owned, then it is likely to pass to the remaining joint owner by operation of law known as survivorship. It is, therefore, always important when dealing with an estate and preparing a will to establish the way in which all the assets are owned.